Something has to be done

  • I'm contacting the gambling commission tomorrow regarding the farcical way FI operate IPO's. Traders who were involved in the last two and who bought Tanganga and Aouchiche have lost out big time especially short term.

    I have no doubt that FI have manipulated numbers to keep the prices down on these players. If the site hadn't crashed on both occasions both Tanganga and Aouchiche prices would be much higher than they currently are. Traders also lost the chance to quick flip on the day which could cost the trader hundreds if not thousands of pounds. FI then have the cheek to put a 25p spread on Tanganga to try and recoup some of their losses from their own mistake.

    Most traders on the platform have made good profits from this platform and overlook FI serious shortcomings which in my view is wrong. For a multi million pound company to behave in such a disgraceful way is totally unacceptable and they need to be held accountable.

    We all knew that the site would crash today but because of FI's greed they pushed through knowing their IT infrastructure would not cope with the demand.

    I'm not holding much hope with the gambling commission but once I get a reply I will update this post.

  • They've taken the brakes off him, risen 30p in 20 mins. Maybe they read your post! :P

  • Get a grip of yourself, I remember you throwing your toys outta the pram a few months ago too when the ipo’s didn’t go your way.

  • Why post this now? This time of night?
    You’ve known the score all day..

  • @Sonnyjim I'll post when I want. Thanks.

  • @Gregolocky No mate. They persistently release IPO's knowing their systems can't cope. That's what I moan about and I have every right to do so.

  • @Pagey74

    Have you made money from FI?

    Use your brains. What will that achieve, they aren't manipulating anything, just had a tech failure.

    What are you hoping for? The best you are going to get is the commission fine FI or threaten their license. If they fine FI then the money comes out the pot for dividends and so on. If they lose their license, what will that do for the money you have invested?

    In reality neither of these would happen but its basically turkeys voting for xmas

  • IPO System is flawed and needs to be suspended until improved. We all know that BUT the only people who have lost money today are FI who would have lost plenty due to the tens of thousands of futures sold at £1.43.
    Any buyers have Adil have made profit - plain and simple. The only reason his price didn't soar was the pure volume of futures in circulation bought at a low price and being flipped.
    It's a tech issue, one we all knew about and knew would happen but what are the gambling commission gonna do? It was resolved in the best way possible and nobody is out of pocket other than FI.

  • @Pagey74 I don’t remember you moaning when the ipo’s dropped just after 1am, I could be wrong but I believe you were one of the first to react and in fairness left the forum know they’d dropped 👍🏻

  • @mike778 Yes I have but that's where the problem lies. Because 99% of traders make money everyone turns a blind eye to their total incompetence.

  • @Gregolocky What's your point?

  • @Pagey74 so you’re the 1% today?

  • @Sonnyjim ???

  • @Pagey74 I’m not even gonna bother, enjoy your rant. Good night to ya 👍🏻

  • @mike778 Are you seriously telling me that Tanganga is only worth £1.20? Get real.

  • @Pagey74 I don't actually know what you can complain to the GC about?

    1. The spread? IS is FI cashing out a bet they are free to offer whatever price they like.
    2. Number of shares to move a penny? Not covered anywhere so technically FI can change that however they like.
    3. The tech? Not of concern to the GC.

    What is the actual complaint? You have placed a bet, FI haven't breached any of the terms of that bet?

    The tech is crap, I get it. But there's nothing the GC can do about their tech so I don't understand what possible interest they would have.

  • @Gregolocky You didn't have one. Good night!

  • @Pagey74 sober up, think about it tomo.

  • @janner73 See my original post. Again because most traders are making good money off this platform they turn a blind eye to the total incompetence.

  • @Pagey74 Not everybody turns a blind eye.
    Stacks of people complain, give feedback, hope they learn and do better in future etc.
    Going to the gambling commission seems an imbecilic thing to do if you have any investment in FI(even if you don’t provided they haven’t turned you over). Not that they’ll be interested in your ipo grievances.

Log in to reply